ECBM's Blog: Information To Protect What You Grow

To combat the growing epidemic of opioid abuse, the Center for Disease Control issued guidelines aimed at limiting the prescription of opioids in ways that might lead to ongoing addiction. Studies have shown that approximately 75% of new heroin users stated that they started their addiction with prescription opioids. Via various methods; obtained themselves with a prescription or from someone else. State governments and the insurance industry have been heavily involved in trying to reduce opioid prescriptions as a way of combating the epidemic, while also aiming to lower the costs of workers compensation claims which can increase exponentially when pain leads to addiction.

Prescription painkillers create unique problems in the world of workers compensation. Doctors in all fields have grown more aware of the issues created by prescribing potentially addictive painkillers to patients. Painkiller addictions can make the likelihood of finding a long-term solution to a patient’s situation decrease.

The change to insurance requirements in April 2013 wasn't exactly getting front-page coverage. The short-short version is this: business owners should reevaluate their standard contractual requirements to be sure that they call for the best coverage available.

Standard Lease, supplier, and service agreements usually contain hold harmless or indemnification provisions.However, that protection can be limited. And it is only good as long as the party bearing the obligaion has the financial wherewithal to pay for it. Basically-you get what you ask for.

So- to add a level of protection under insurance policies you can create a list of Additional Insured entities.

Employers are aware that the use of marijuana is now legal in a multitude of states. 22 states and the District of Columbia have legalized marijuana for medical purposes and 2 states, Colorado and Washington, legalized marijuana for recreational use. The laws in these states grant individuals suffering from various ailments the right to seek relief through the use of marijuana. For the most part these statutes decriminalize the use of marijuana for authorized users and create some sort of patient registry. Issues remain with regard to employment and whether an employer can decide to hire or fire based on legal marijuana use. Rhode Island and Arizona laws have language that prohibits an employer from penalizing or refusing to hire a person because of medical marijuana use. Additionally, some of the states have added sections specifically prohibiting discrimination.

Some may remember the movie by this title involving characters who manipulate each other to gain control of a company in order to line their own pockets. However, the use of another’s money to improve your profit margin isn’t always for the unscrupulous. Sound risk management practices call for risk transfer through any number of mechanisms. Contractual risk transfer is one sound risk management practice restaurant and retail store owners must deal with each day.